Chicago is a hotbed for billionaires, firms report

PUNIT PARANJPE / AFP/Getty Images

US Secretary of Commerce Penny Pritzker speaks during a seminar with Indian business executives in Mumbai on July 30, 2014. She and her relatives account for four out of the 11 billionaires in the world that were born in Chicago.

US Secretary of Commerce Penny Pritzker speaks during a seminar with Indian business executives in Mumbai on July 30, 2014. She and her relatives account for four out of the 11 billionaires in the world that were born in Chicago. (PUNIT PARANJPE / AFP/Getty Images)

Julie WernauTribune reporter

More billionaires born in Chicago than anywhere in U.S. except New York

More billionaires are born in Chicago than in any other U.S. city apart from New York, according to reports from two firms that investigate wealth.

In fact, one in every 200 billionaires in the world is born in Chicago, according to wealth research firms Spear’s Magazine and consultancy WealthInsight.

It helps if your last name is Pritzker, making you a member of the illustrious family that founded the Hyatt Hotel chain. Four of Chicago's 11 billionaires are Pritzkers.

“Where billionaires come from depends on much more than the economy. Every aspect of a city’s DNA influences the next generation of wealthy and successful leaders,” according to WealthInsight Analyst Oliver Williams. “Though a punchy economy is essential, so too is access to education, a vibrant social environment and a history of mentors that future billionaires can take inspiration from.”

Within the US, seven cities have produced five or more billionaires: New York (52 billionaires), Chicago (11 billionaires), Los Angeles (9 billionaires) and Detroit, Houston, Pittsburgh and San Francisco (5 billionaires each).